Latest weapon deployed by the SFC: Section 300

Last week, the Court of First Instance issued a landmark ruling interpreting s.300 of the Securities and Futures Ordinance (SFO), which prohibits fraudulent or deceptive conduct in a transaction involving securities.

The Court imparted relatively broad interpretations to s.300's required elements of "fraud and deception" and "in a transaction involving securities", raising the question of whether we might see more widespread deployment of s.300 in the future.

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